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Aug 10, 2011
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on the trading floor today, it was mostly a question of how low stocks would go, after tuesday's big rally. some analysts said the back-to- bearish outlook should have been expected. >> the market doesn't seem that schizophrenic from a trader standpoint in that the trend is definitely down, we only had one day and when you have nine or eight sessions of straight down, you are going to get like a dead-cat bounce, so to speak. >> woodruff: the tuesday bounce followed the federal reserve's pledge to keep interest rates low. today, the focus shifted to the fed's downbeat view of the economy and the dow blew through nearly 520 points, to close below 10,720. the nasdaq was off 101 points, at 2,381. the selling was also driven by concerns about the financial health of europe's major banks and the possible effects here. >> there's all these cross lines between u.s. banks and the european banks, so now the thought is that if europeans are in trouble with their own capitalization ratios, it's going to impact the u.s. banks. >> woodruff: the chairman of one major u.s. bank-- jamie dimon of j.p.
on the trading floor today, it was mostly a question of how low stocks would go, after tuesday's big rally. some analysts said the back-to- bearish outlook should have been expected. >> the market doesn't seem that schizophrenic from a trader standpoint in that the trend is definitely down, we only had one day and when you have nine or eight sessions of straight down, you are going to get like a dead-cat bounce, so to speak. >> woodruff: the tuesday bounce followed the federal...
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Aug 9, 2011
08/11
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they said they're going to keep interest rates low for some time. interpret. >> well, i think actually the statement was even more breakthrough than that. they also said that they would continue to monitor and review and make any actions and adjustments necessary to the size and composition of their balance sheet. that's fed-speak for the opening the door to additional quantitative... we had seen the big bond-buying purchases of treasury bonds that ended in june of 2011. so they're opening the door to that. they're going to clarify that over the next several weeks and months. my guess is the jackson hole wyoming meetings will be quite interesting again with lots of news coming from there. once traders get down to interpreting the full body of what the fed was saying is the fed really stood by the g-7, the developed countries that said on sunday that they would provide whatever liquidity necessary in the wake of the downgrade by s&p. >> woodruff: neal irwin, how do you see what's significant in what the fed said today. >> what they're saying is the e
they said they're going to keep interest rates low for some time. interpret. >> well, i think actually the statement was even more breakthrough than that. they also said that they would continue to monitor and review and make any actions and adjustments necessary to the size and composition of their balance sheet. that's fed-speak for the opening the door to additional quantitative... we had seen the big bond-buying purchases of treasury bonds that ended in june of 2011. so they're...
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Aug 10, 2011
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. >> reporter: robeson is not the only new york school dealing with low graduation rates. the international school in prospect heights, where rosie fresecella teaches, is experiencing similar issues. >> you know, my school is special because they are all english language learners. >> reporter: in fact, students who speak english as a second language have a 4-year graduation rate of less than 40%. teachers at prospect also disagree with the label dropout factory. >> it's another cliche name. i know what i do, i know about my job. i know when i go home, i dream about my kids, i know i think
. >> reporter: robeson is not the only new york school dealing with low graduation rates. the international school in prospect heights, where rosie fresecella teaches, is experiencing similar issues. >> you know, my school is special because they are all english language learners. >> reporter: in fact, students who speak english as a second language have a 4-year graduation rate of less than 40%. teachers at prospect also disagree with the label dropout factory. >> it's...
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Aug 29, 2011
08/11
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they are mostly low cost generics given in hospital settings. they are also critical drugs, ones used to keep patients in the intensive care unit alive. anti cancer drugs for which there may be no substitute and medications crucial for some surgeries. most of the other 40% on the shortage list are brand name drugs still under u.s. government patent, for which there are no generic equivalents. and few of them are critical to patient care. >> how's your energy? >> reporter: when blair's oncologist dr. dipti patel was unable to get cytarabine, she came up with a substitute, but it was more toxic, took longer to administer and did not have the same cure rate. >> it really cripples our ability to treat properly. we have to become creative of how to treat patients such as this because often leukemia patients can't wait for their treatments. >> reporter: patel practices at virginia cancer specialists in fairfax virginia, part of the u.s. oncology network of physicians. >> timing for acute leukemia in general is very critical. i mean it is a very prolif
they are mostly low cost generics given in hospital settings. they are also critical drugs, ones used to keep patients in the intensive care unit alive. anti cancer drugs for which there may be no substitute and medications crucial for some surgeries. most of the other 40% on the shortage list are brand name drugs still under u.s. government patent, for which there are no generic equivalents. and few of them are critical to patient care. >> how's your energy? >> reporter: when...
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Aug 4, 2011
08/11
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and european stocks hit an 11- month low. there's concern there that the debt crisis in greece, portugal and ireland could spread to countries like spain and italy. for more on all this, we turn to: hugh johnson, chairman and c.e.o. of hugh johnson advisors, an investment management firm; and gillian tett, u.s. managing editor of the "financial times." and we thank you both for being with us on this day that we're all watching the markets. gillian tett, to you first, what's behind this drop? >> well, there's basically a collision of two very nasty factors. on the one hand investors are waking up to the fact that although a lot of people hopedded there's be a magic wand to get the u.s. economy growing again after the big debt bubble, history shows that whenever you have a heard of de leveraging, of cutting-- debt, growth tends to be sluggish in a while. so in a sense you have had reality striking home. but that reality striking home, the idea that growth is going to be slug harbs collided with a real sense of panic about the o
and european stocks hit an 11- month low. there's concern there that the debt crisis in greece, portugal and ireland could spread to countries like spain and italy. for more on all this, we turn to: hugh johnson, chairman and c.e.o. of hugh johnson advisors, an investment management firm; and gillian tett, u.s. managing editor of the "financial times." and we thank you both for being with us on this day that we're all watching the markets. gillian tett, to you first, what's behind...
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Aug 18, 2011
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and you came back down and retv the lows. i think that's what we're doing right now. i think we're in a bottoming phase. >> susie, were you going to say? >> today i was speaking with-- interviewing the c.e.o. of dow chemical, which will be on our program a little bit, and i asked him about all this, and he said confidence is the key to everything here. and businesses, in order for them to vest and hire, they need to see that policymakers are giving them incentives to hire and invest, whether it's about regulations, tax policy or tax breaks. and they're just not getting it, and confidence is key toeg. so until we see policymakers taking some kind of action-- people have just lost confidence. >> jeffrey saut, who the vix, or the volatility index. if it's over 30 what's that measuring and why should we be worried? >> it does measure will haveility it on the c.b.o.e., and it has picked up dramatically in the past two weeks, but if you map it up against the '87 crash or some of the read it is gave off in the financial fiasco of 20
and you came back down and retv the lows. i think that's what we're doing right now. i think we're in a bottoming phase. >> susie, were you going to say? >> today i was speaking with-- interviewing the c.e.o. of dow chemical, which will be on our program a little bit, and i asked him about all this, and he said confidence is the key to everything here. and businesses, in order for them to vest and hire, they need to see that policymakers are giving them incentives to hire and...
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Aug 17, 2011
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republican presidential hopeful and texas governor rick perry who touts his state's job growth and low taxes as a model for the rest of the country. >> brown: paul solman explores whether the growing gap between rich and poor contributed to the 2008 financial collapse. >> those at the high end are putting some of their money into lending to everyone else. and those down below, they're doing the borrowing. that's creating a source of enormous instability. if there's a connection between inequality and financial crises, that is a cause for concern. >> woodruff: margaret warner updates the revolution in egypt with global post's charles sennott, who returned to tahrir square last month. >> brown: and ray suarez gets an inside look at the world of modern day pirates off the coast of somalia from author and journalist jay bahadur. >> woodruff: that's all ahead on tonight's "newshour." major funding for the pbs newshour has been provided by: >> i mean, where would we be without small businesses? >> we need small businesses. >> they're the ones that help drive growth. >> like electricians, mec
republican presidential hopeful and texas governor rick perry who touts his state's job growth and low taxes as a model for the rest of the country. >> brown: paul solman explores whether the growing gap between rich and poor contributed to the 2008 financial collapse. >> those at the high end are putting some of their money into lending to everyone else. and those down below, they're doing the borrowing. that's creating a source of enormous instability. if there's a connection...
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Aug 12, 2011
08/11
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week and pretty much telegraphed and showed its hand and said that we're going to keep rates at record lows at least until 2013. now what that is forcing people out of-- into cash but making it prohibitively difficult to be in cash. meanwhile, european investors, institutional traders, investor and the like there are piling into u.s. treasuries at the very time that you have standard & poor's saying that we're not as good for our money as we were a couple of years ago. and so that is just pushing everything down in terms of interest rates. and you see investors almost being smoked out of their safety zone, being forced to go and dabble in markets. and yet, put europe, put asia, everybody together. we've lost $7 trillion off stock-market values in just three weeks. >> and it is another one of those contradictions. we were talking about a minute ago. you know, we had two economists on the program earlier this week who said the odds of a second recession are now rising. how does that look to you at the end of this week? >> to me it looks like nothinging a dead or terminally ill horse at this p
week and pretty much telegraphed and showed its hand and said that we're going to keep rates at record lows at least until 2013. now what that is forcing people out of-- into cash but making it prohibitively difficult to be in cash. meanwhile, european investors, institutional traders, investor and the like there are piling into u.s. treasuries at the very time that you have standard & poor's saying that we're not as good for our money as we were a couple of years ago. and so that is just...
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Aug 25, 2011
08/11
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apple also has come under criticism for the low wages and labor practices of its suppliers in china. in one such incident-- as seen on the "newshour" earlier this year-- the company was accused of being slow to respond when workers building iphones were poisoned by toxic chemicals. but despite those allegations, steve jobs' track record has made him almost a mythic figure in the tech world. >> he's a beloved leader, he's iconic, he represents the heart and soul of apple and frankly it's going to be hard moving on. >> suarez: that task now falls to the current chief operating officer tim cook hand-picked as jobs' successor. cook has been holding down the fort since jobs took medical leave. jobs is not leaving the company. he will stay on as chairman of the board, according to >> suarez: more now about the impact steve jobs has made and what his resignation means from two who watch this field. walter mossberg is the long-time personal technology columnist for the "wall street journal." and charles golvin is a principal analyst for forrester research. walter mossberg, whether it's consu
apple also has come under criticism for the low wages and labor practices of its suppliers in china. in one such incident-- as seen on the "newshour" earlier this year-- the company was accused of being slow to respond when workers building iphones were poisoned by toxic chemicals. but despite those allegations, steve jobs' track record has made him almost a mythic figure in the tech world. >> he's a beloved leader, he's iconic, he represents the heart and soul of apple and...
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Aug 30, 2011
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interest rates are at a 50-year low and yet we have such a tepid housing market. yes, prices have gone up in a number of cities over the last couple months but they're down from a year ago and really down from where they were almost at beginning of the decade. it's still a very difficult sort of shaky time in the housing market. >> brown: the uptick, such as it is, came in the second quarter. the quarter was up but the year is down. i mean that's... it was interesting to read the reports this morning, just to parse it. >> yeah, it's a little bit-- emphasis on little-- bit of good news. most people would say the real number to look at is the year- over-year change. as long as we keep declining, that's bad news. cumulative, we've already seen a 30% or so decline according to the case schiller index. this is just more bad news. >> brown: just to help us with it a little bit more, this seasonal adjustment idea. explain that concept because that plays in to how we read these numbers, rights? >> if you look at typically the housing season is the summer months so you wou
interest rates are at a 50-year low and yet we have such a tepid housing market. yes, prices have gone up in a number of cities over the last couple months but they're down from a year ago and really down from where they were almost at beginning of the decade. it's still a very difficult sort of shaky time in the housing market. >> brown: the uptick, such as it is, came in the second quarter. the quarter was up but the year is down. i mean that's... it was interesting to read the reports...
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Aug 26, 2011
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but especially in lower manhattan by wall street there are stations that are very low lying right by the water line. they tend to be flooded, the signals on the tracks can short circuit. there can be electrical problems. it makes it impossible to run the trains. coy tell you too that they are not leaving any detail unturned there are commuter rails out in the suburbs that have grade crossings with wooden gates that block cars. they're securing those gates, fastening them down so they don't fly off and damage people in vicinity. >> a major test. michael grynbaum of the new york estimates, thanks so much. >> thanks for having me. >> lehrer: still to come on the newshour: the ongoing battle in libya; shields and brooks; and the new monument to martin luther king. but first, the other news of the day. here's kwame holman. >> holman: wall street closed out the week with gains today. stocks rebounded from a sell-off after federal reserve chairman ben bernanke said the u.s. economy is on track for long- term growth. the dow jones industrial average gained more than 134 points to close at 11
but especially in lower manhattan by wall street there are stations that are very low lying right by the water line. they tend to be flooded, the signals on the tracks can short circuit. there can be electrical problems. it makes it impossible to run the trains. coy tell you too that they are not leaving any detail unturned there are commuter rails out in the suburbs that have grade crossings with wooden gates that block cars. they're securing those gates, fastening them down so they don't fly...
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Aug 16, 2011
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we asked two presumably low- income workers near the tourist line for letterman. what place would have a distribution like this? >> united states. >> united states. >> reporter: yes, this chart represents the land of opportunity-- ours. >> reporter: psychologist dan ariely designed the quiz. his first consistent finding-- most americans don't realize how unequal our country really is. >> people don't understand how much wealth the top 20% have. they actually have 84% of the wealth, and they think they have much less. and more disturbingly, people don't understand how little wealth the bottom of the distribution have. the bottom 40% of the u.s. have about 0.3% of the wealth-- basically, zero-- and people think they have much more than that. >> reporter: but how can that be, given the spread of mcmansions and luxury brands in america's wealthy communities, so easy to contrast with almost any poor neighborhood in the country? harvard business school professor david moss. >> people look around them at their local communities, and local communities tend to be more equa
we asked two presumably low- income workers near the tourist line for letterman. what place would have a distribution like this? >> united states. >> united states. >> reporter: yes, this chart represents the land of opportunity-- ours. >> reporter: psychologist dan ariely designed the quiz. his first consistent finding-- most americans don't realize how unequal our country really is. >> people don't understand how much wealth the top 20% have. they actually have...
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Aug 11, 2011
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. >> interest rates are already low. they've been low since october 2008. so, low interest rates by themselves are not going to be enough to help them in this particular situation. >> reporter: moutray is now with the national association of manufacturers, and he says, for businesses that make things, low interest rates are a mixed blessing. lower rates in the u.s. help keep the dollar down, and that has helped exports rise this year, though the last two months have seen exports fall. on the other hand, manufacturers are worried about the rising cost of raw materials. >> to the extent that this policy, which is now going to be years,- a long time... to the in place for the next two years,- which is a long time... to the extent that that helps creep inflation into the picture, i think that's not a good thing for manufacturers. >> reporter: low rates may do more for homeowners. mortgage rates are near record lows and that is feeding a mini- boom in refinancing. but that may not boost home sales. there are still relatively few buyers who can qualify for mortga
. >> interest rates are already low. they've been low since october 2008. so, low interest rates by themselves are not going to be enough to help them in this particular situation. >> reporter: moutray is now with the national association of manufacturers, and he says, for businesses that make things, low interest rates are a mixed blessing. lower rates in the u.s. help keep the dollar down, and that has helped exports rise this year, though the last two months have seen exports...
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Aug 22, 2011
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these are their lowest prices since the sell-off low two weeks ago. the situation in libya may have helped gold prices continue to hit new highs, up almost $40 an ounce. new record high again. market talk ahead of friday's speech by federal reserve chairman ben bernanke also may have helped. with the economy weak, pressure has been building for the fed to do something to help spark growth, and that may have longer-term inflationary consequences. now check out another precious metal, platinum. traditionally, traders tell me platinum trades about $1,000 an ounce over the price of gold, but here's platinum at $1,900 an ounce-- less than $10 over gold. why? one reason may be the stalled auto industry thanks to the japan earthquake. platinum is a key material for catalytic converters, and with auto manufacturing lagging, industrial demand may be lagging. speaking of automakers, general motors stock is at its lowest point since it came public last november at $33 per share. deutsche bank cut its price target to $36.50 over worries about rising pension costs
these are their lowest prices since the sell-off low two weeks ago. the situation in libya may have helped gold prices continue to hit new highs, up almost $40 an ounce. new record high again. market talk ahead of friday's speech by federal reserve chairman ben bernanke also may have helped. with the economy weak, pressure has been building for the fed to do something to help spark growth, and that may have longer-term inflationary consequences. now check out another precious metal, platinum....
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Aug 8, 2011
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a new low tonight. s&p kept the company's credit rating unchanged-- double a plus, the same as uncle sam's-- but knocked down berkshire's outlook to "negative." as suzanne mentioned earlier, mortgage rates have been steady, but with worries about higher borrowing costs for home buyers. mortgage insurance stocks were down sharply. m.g.i.c. lost more than 40% of its value. radian group dove more than 28%. and m.b.i.a. was off over 12%. another blue chip getting bruised and battered in today's trading was verizon, falling 5.5%. this brings shares down to their lowest price of the year. what's going on? the selling comes a day after almost half of its traditional landline telephone, internet and cable tv service workers went on strike. about 45,000 walked out over contract talks. the unions have rejected company proposals to cut pensions and increase employee contributions for health insurance. and that's tonight's "market focus." >> tom: since friday, standard & poor's has been under fire by critics for do
a new low tonight. s&p kept the company's credit rating unchanged-- double a plus, the same as uncle sam's-- but knocked down berkshire's outlook to "negative." as suzanne mentioned earlier, mortgage rates have been steady, but with worries about higher borrowing costs for home buyers. mortgage insurance stocks were down sharply. m.g.i.c. lost more than 40% of its value. radian group dove more than 28%. and m.b.i.a. was off over 12%. another blue chip getting bruised and battered...
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Aug 1, 2011
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>> reporter: pretty low. the president might be tempted to ask for additional stimulus -- after all, he pushed really hard for the extension of the payroll-tax holiday, a lot of people haven't noticed that but economists say that's been a big help with the high gas prices, so the president could push for that. the problem is the natural place to push for that is in this super committee where they're going to consider another $1.5 trillion in cuts. it might naturally fit under there but nobody i have talked to really expects that super committee will be able to deliver a package that will go forward, because it's the same problem. the republicans don't want tax increases. the democrats don't want to give up spending increases -- i mean, spending cuts without more tax increases. >> tom: we're back to square one where it comes to that as we're speaking live on the eastern coast, the house vote beginning in moments. darren gersh, thank you. >> susie: wall street's debt deal rally lasted about 30 minutes this morn
>> reporter: pretty low. the president might be tempted to ask for additional stimulus -- after all, he pushed really hard for the extension of the payroll-tax holiday, a lot of people haven't noticed that but economists say that's been a big help with the high gas prices, so the president could push for that. the problem is the natural place to push for that is in this super committee where they're going to consider another $1.5 trillion in cuts. it might naturally fit under there but...
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Aug 19, 2011
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is at a six year low. the ripple effect may be felt at intel. shares sank almost 3%. nomura securities lowered its estimates for intel, predicting the chip maker will miss its revenue targets this quarter. while we're talking technology, a couple of software stocks made big moves in opposite directions. design software maker auto-desk fell almost 12% thanks to a disappointing forecast. tax software maker intuit was very strong, up more than eight percent. a strong outlook, a stock buyback plan and announcing its first ever dividend all helped shares today. global consumer stocks were bright spots. mcdonald's bounced up 2%. now about two dollars below its all-time hit in july. additionally, it is one of the few dow jones stocks up this week we also saw buyers back in wal- mart. that stock was up 1%. despite the swings, wal-mart stock is almost back to where it was trading at the beginning of this month. however, not all is well in retailing. teen clothing store aeropostale is losing out in the popularity contest with shoppers. sales and profits dropped in the past quar
is at a six year low. the ripple effect may be felt at intel. shares sank almost 3%. nomura securities lowered its estimates for intel, predicting the chip maker will miss its revenue targets this quarter. while we're talking technology, a couple of software stocks made big moves in opposite directions. design software maker auto-desk fell almost 12% thanks to a disappointing forecast. tax software maker intuit was very strong, up more than eight percent. a strong outlook, a stock buyback plan...
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Aug 18, 2011
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ubs and deutsche bank each fell to new lows for the year. hsbc is just above last week's low. each of these stocks dropped 6% or more. tech stocks were not spared. this technology etf shed almost 5% on strong volume. technical analyst michael kahn writes "the bears are in charge." more is on our web site, nbronpbs.org. click on the "blogs" tab. two tech stocks to watch tomorrow. tax software firm intuit and design software company auto- desk. while shares were down during the regular session, both were higher after hours by 4%, thanks to strong earnings and outlooks. as for where the buying was today, video game retailer gamestop gained almost 5%, and volume tripled. its outlook into the holidays was optimistic. gold continues its record run, up more than $27 to almost $1,820 an ounce. and so does the bond buying. the yield on the ten-year government bond briefly dropped below 2% today, ending the day just above that level as investors continue paying up for protection. and that's tonight's "market focus." >> susie: so, what's corporate america's take on the economy? to answer
ubs and deutsche bank each fell to new lows for the year. hsbc is just above last week's low. each of these stocks dropped 6% or more. tech stocks were not spared. this technology etf shed almost 5% on strong volume. technical analyst michael kahn writes "the bears are in charge." more is on our web site, nbronpbs.org. click on the "blogs" tab. two tech stocks to watch tomorrow. tax software firm intuit and design software company auto- desk. while shares were down during...
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Aug 16, 2011
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they don't have the low rate. so from 33% to 41% they range and they average 36% and i'm in there with a fat 17.4% i think it is. >> rose: and why is that? >> well, taxes... if you make money with money, you get taxed very... at very low rates. 15% dividends in capital gains. no payroll tax. if you make money with muscle or hard work or sweat of your brow, you t taxed at ras that move on up. and most of the people,the middle-class gets taxed at rates of either 15% or 25% on their income tax, but then they get really hit hard on the payroll tax and that's what brings the rates in our office up to an average of 36% if you leave me out. >> rose: what has happened to the tax rate for the low 20es%? >> the poor don't pay any. there's 80 plus million actual taxpayers that pay tax. incidentally, some of the extremely wealthy don't pay, but that's just an aberration. no, the taxes... taxes are falling... the high rates are falling on the middle-class and the upper middle-class. >> rose: the argument is sometimes made by p
they don't have the low rate. so from 33% to 41% they range and they average 36% and i'm in there with a fat 17.4% i think it is. >> rose: and why is that? >> well, taxes... if you make money with money, you get taxed very... at very low rates. 15% dividends in capital gains. no payroll tax. if you make money with muscle or hard work or sweat of your brow, you t taxed at ras that move on up. and most of the people,the middle-class gets taxed at rates of either 15% or 25% on their...
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Aug 24, 2011
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the sell-off takes micron to a new 52-week low. speaking of technology, semiconductor equipment maker applied materials turned a better-than-expected quarter after the close today. it beat estimates by two cents per share. shares have been trending lower since the springtime. here it is. they were down a fraction before the news and fell another 4% after the close. the c.e.o. warned he sees the chip cycle beginning to turn down. and a couple of clothing and that's tonight's "market focus." >> tom: the european economy may barely be moving, but tonight's "street critique" guest isn't shying away from the continent. she's hilary kramer, editor of gamechangerstocks.com. nice to see you, welcome back. specifically you're looking at a couple of european foofl companies. we'll begin with glaxosmithkline, gfk the ticker symbol, waysed in the u. k., makes the asthma drug advair and aquafresh toothpaste. what makes you like this in the mid 40s? >> what i like is the dividend yield. we're all chasing dividend yields right now, in a diversifi
the sell-off takes micron to a new 52-week low. speaking of technology, semiconductor equipment maker applied materials turned a better-than-expected quarter after the close today. it beat estimates by two cents per share. shares have been trending lower since the springtime. here it is. they were down a fraction before the news and fell another 4% after the close. the c.e.o. warned he sees the chip cycle beginning to turn down. and a couple of clothing and that's tonight's "market...
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Aug 8, 2011
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if you're unemployed now i really feel for you because your chance of getting reemployed is very low. so this is depressing. we need somebody to stand up in a way that the president did not by the way this afternoon and say, we are on the wrong track. we are not... we are not dealing with the problem at hand. at least to call out the people who are standing in the way of doing the right things. >> woodruff: terry belton, just quickly. what should americans, ordinary americans be thinking at this point? about the.... >> i mean it's not all doom and gloom. i think there are some good signs. we're seeing a little bit of signs of recovery in the labor market. the unemployment rate is still obviously very high. above 9%. but we are seeing sort... for the first time this summer the labor market gains. we have the jobless claims is down at the lowest level since april. last month's payroll number was double what we been getting the previous three months. we actually think we're through the worst. we had a dismal growth in the first half. lit be a little bit better in the second half. but sti
if you're unemployed now i really feel for you because your chance of getting reemployed is very low. so this is depressing. we need somebody to stand up in a way that the president did not by the way this afternoon and say, we are on the wrong track. we are not... we are not dealing with the problem at hand. at least to call out the people who are standing in the way of doing the right things. >> woodruff: terry belton, just quickly. what should americans, ordinary americans be thinking...
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Aug 4, 2011
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shares sit at a new 52-week low tonight. the company reported a quarterly loss thanks to its buyout of massey energy. its outlook for coal shipments was positive, but investors instead sold shares. i mentioned there were only three stocks higher in the s&p 500. hey they are. motorola mobility popped more than 3.5%. the company released a new low- priced phone today and a new survey finds motorola remains the third largest mobile phone maker in the world. while material stocks were down, quarry company vulcan materials was up more than 1.5%. it had strong earnings earlier this week. and california electric utility pg&e was up a fraction. while mobile technology has been a hot trend, we saw selling of big and smaller players in the industry. here are some biggies. apple and google fell by more than 3%each and research in motion dropped almost 7%. that's a new multi-year low for rimm. at $23.59. some of the smaller players-- prepaid wireless providers leap and metro p.c.s.-- saw stiff selling. leap lost a third of its value tod
shares sit at a new 52-week low tonight. the company reported a quarterly loss thanks to its buyout of massey energy. its outlook for coal shipments was positive, but investors instead sold shares. i mentioned there were only three stocks higher in the s&p 500. hey they are. motorola mobility popped more than 3.5%. the company released a new low- priced phone today and a new survey finds motorola remains the third largest mobile phone maker in the world. while material stocks were down,...
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Aug 2, 2011
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today's selling takes us below the low in june and below its march low. over the past 12 months, the index is up 11%. meantime, a lot of buying interest in uncle sam's debt. here we have the interest rate on the 10-year government i.o.u. rates plunged today, falling to its lowest level of the year. 2.6%. lower rates mean higher prices as people buy up bonds. the fear factor over a weak economy also helped metal prices. there's that gold price yet again. gold continues hitting new highs, at $16.43 an ounce. silver closed back over $40 an ounce. the soft economy concerns pushed oil lower. light sweet u.s. crude fell more than $1 per barrel. the day the government agreed to raise its borrowing limit hoping to avoid a credit rating downgrade, and the stock of the parent company of one of those credit ring agencies hits a new 52-week high. how about that for irony? mcgraw hill owns standard & poors. shares were a stand-out today, jumping more than 7% on strong volume. two big shareholders say they may push the company to break apart. in addition to s&p, mcgraw
today's selling takes us below the low in june and below its march low. over the past 12 months, the index is up 11%. meantime, a lot of buying interest in uncle sam's debt. here we have the interest rate on the 10-year government i.o.u. rates plunged today, falling to its lowest level of the year. 2.6%. lower rates mean higher prices as people buy up bonds. the fear factor over a weak economy also helped metal prices. there's that gold price yet again. gold continues hitting new highs, at...
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Aug 19, 2011
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of cases that have been backlogged in the courts tar long time ask an assessment-- is this person a low risk? do they have long ties to this country because they came as a child? is it shhh a person who has a family member who is serving in the military? if they are, that is not going to be a priority for removal. if, however, you have someone who has a criminal record, who poses a national security threat, then, of course, we're going to accelerate and focus on removing that person. i think that's smart policy. i think it's smart law enforcement. >> suarez: you just heard dan stein call it amnesty, is it? >> of course it's it's not amnesty. i think dan sign would call anything amnesty that is not a mass deportation. we have to make choices. we have 11 million people here without papers. 11 million. that's the size of the population of ohio. we can't randomly deport people without focusing on those who mean to do us harm, those who have a criminal record. that's something the obama administration has done vigorously. this administration is on track. they will have deported more people t
of cases that have been backlogged in the courts tar long time ask an assessment-- is this person a low risk? do they have long ties to this country because they came as a child? is it shhh a person who has a family member who is serving in the military? if they are, that is not going to be a priority for removal. if, however, you have someone who has a criminal record, who poses a national security threat, then, of course, we're going to accelerate and focus on removing that person. i think...
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Aug 3, 2011
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this process should unfold in the way that egyptian judicial practices, adhere to those standards, as low as they may be in some case, it's important that egyptians see that, even for someone like president mubarak. >> warner: tarek masoud, a lot of egyptians used to say they didn't think there was much justice in egypt, that the courts were rigged. >> you know, margaret, that's actually very interesting. the egyptian judiciary actually has had a fair measure of legitimacy in egypt over the past 50 years. so where people might think that elections are rigged or other state institutions are unfair, for whatever reason the judiciary has actually been seen by people on the whole as the most legitimate institution in egypt. so i think that there's a sense here that this court system is well equipped to handle this trial. you know, steve warned that if this devolves into revolutionary justice where there is a departure from dew due process t obviously this would be a stain on egypt's reputation, but i think what people in egypt may be afraid of is precisely the opposite, that the courts will g
this process should unfold in the way that egyptian judicial practices, adhere to those standards, as low as they may be in some case, it's important that egyptians see that, even for someone like president mubarak. >> warner: tarek masoud, a lot of egyptians used to say they didn't think there was much justice in egypt, that the courts were rigged. >> you know, margaret, that's actually very interesting. the egyptian judiciary actually has had a fair measure of legitimacy in egypt...
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Aug 16, 2011
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that's very low. but most people can't do that because they may have an impaired credit score or they don't have any equity in their home. so i think there are ways to bring down the rates that those folks face. i think those are loans that are already insured or owned by fannie mae and freddie mac. reducing those rates will allow for more refinancings. that lowers monthly mortgage payments and that makes it less likely those folks would get into trouble and it would also put money in their pockets. that would be a big plus for the economy. >> susie: uh-huh. some people have been suggesting reviving the first-time... the credit for the first-time home buyers. what do you think of that idea? >> i think that's an idea whose time has passed. we've had three housing tax credits. i think the first couple rounds were pretty helpful. they brought an end to the housing crash. but i think homeowners are getting to the point or potential home buyers are getting to the point where they'll stop buying and wait fo
that's very low. but most people can't do that because they may have an impaired credit score or they don't have any equity in their home. so i think there are ways to bring down the rates that those folks face. i think those are loans that are already insured or owned by fannie mae and freddie mac. reducing those rates will allow for more refinancings. that lowers monthly mortgage payments and that makes it less likely those folks would get into trouble and it would also put money in their...
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Aug 2, 2011
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and other places, not to mention can i just say americans' faith in congress which is at an all-time low, we just got past this bruising debt-limit fight that went to the brink, congress's popularity -- if you think it could go any lower, it actually did, and now we're in yet another shutdown situation. that's what's at stake here. it will get solved eventually. the difference between the house and the senate is $16 million. nobody really cares about three airports in the essential air service, really, individual members might care but they can be placated. this is a showdown of ego, and will, and posturing in a very, very toxic environment. nobody wants to give an inch here. >> woodruff: again, ben muttsa baugh, the flying -- ben muttzabaugh, where is the pressure on the congress to resolve this? >> if they couldn't do it now even in the face of this horrific economic situation that they're furloughing workers and a number of construction jobs is put by one estimate at 70,000 people have had to walk away from construction sites. if that doesn't give them the political will to figure thi
and other places, not to mention can i just say americans' faith in congress which is at an all-time low, we just got past this bruising debt-limit fight that went to the brink, congress's popularity -- if you think it could go any lower, it actually did, and now we're in yet another shutdown situation. that's what's at stake here. it will get solved eventually. the difference between the house and the senate is $16 million. nobody really cares about three airports in the essential air service,...
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Aug 5, 2011
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that fit into the new poll, yesterday's poll that was out today, cbs "new york times" poll about the low opinion that the american people have of the congress? >> congress as somebody once see serves two purposes, it makes the united nations look efficient by contrast and it makes the president's job rating look good. but we've been through three straight elections in a row, jim, that have repealed one of the great maxims of american politics. all politics is local. all politics is not local. and it is local until it's national. we've gone through three national elections where they've thrown the ins out. 2006 it was the republicans and 2010 it was the democrats. i think what you see the that "new york times" poll is an electorate ready to throw people out again. >> you could end up with a democratic house and a republican president. >> i suggested that to peter hart today, that it -- he said that would be really exceptional. >> it would be exceptional. >> but given the distemper of voters, they are so angry, if you saw the words that they attached in andy kohut's poll after the deal on
that fit into the new poll, yesterday's poll that was out today, cbs "new york times" poll about the low opinion that the american people have of the congress? >> congress as somebody once see serves two purposes, it makes the united nations look efficient by contrast and it makes the president's job rating look good. but we've been through three straight elections in a row, jim, that have repealed one of the great maxims of american politics. all politics is local. all politics...
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Aug 24, 2011
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. >> well, it's a low lying island, and if it's a bad storm that hits directly it won't take much of an elevation of sea level to create a lot of havoc. there aren't many high spots on ocracoke island. >> brown: north carolina governor bev perdue warned people not to take irene lightly. >> we know she, hurricane irene, is a big storm. 115 m.p.h. winds is a big wind. get your evac kit ready, get your meds ready, take insurance docs and have plan to get out if you have to. treat this seriously. but then pray real hard that north carolina will be fine. >> brown: farther north, new englanders were prepping for the storm's possible arrival in a few more days, including at martha's vineyard, massachusetts, where president obama was vacationing. a spokesman said he's getting updates from craig fugate, head of the federal emergency management agency. >> this is somebody who is a legitimate expert on these issues. logistical issues are a part of that effort, that's why we're in such close communication and consultation with state and local officials up and down the eastern seaboard. >> brown:
. >> well, it's a low lying island, and if it's a bad storm that hits directly it won't take much of an elevation of sea level to create a lot of havoc. there aren't many high spots on ocracoke island. >> brown: north carolina governor bev perdue warned people not to take irene lightly. >> we know she, hurricane irene, is a big storm. 115 m.p.h. winds is a big wind. get your evac kit ready, get your meds ready, take insurance docs and have plan to get out if you have to. treat...
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Aug 30, 2011
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, scant gains above their lows, and it's really not clear whether these lows are going to hold or late this year they'll be back down making new lows again. >> reporter: if the federal reserve does decide the economy needs more help, there are many options. at their august meeting, fed leaders discussed everything from cutting the interest rates on excess bank reserves to buying bonds with a longer maturity in an effort to bring down long-term interest rates. darren gersh, "nightly business report," washington. >> susie: joining us now, kenneth rogoff, professor of economics at harvard university. hi, ken. nice to have you on the program tonight. >> hi, susie. thanks for having me. >> susie: so let's pick up with darren just left off and talk about the fed. i think it's kind of interesting that here we've got this group of policy-makers looking at the same day dark coming up with different on collusions on what it means and not being able to agree on what to do next. what's your take on what came out of the fed today? >> there's clearly a lot of disagreement at the fed, and ben bernank
, scant gains above their lows, and it's really not clear whether these lows are going to hold or late this year they'll be back down making new lows again. >> reporter: if the federal reserve does decide the economy needs more help, there are many options. at their august meeting, fed leaders discussed everything from cutting the interest rates on excess bank reserves to buying bonds with a longer maturity in an effort to bring down long-term interest rates. darren gersh, "nightly...
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Aug 23, 2011
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nvidia was at a year-to-date low last week. today, it closed higher by almost 11%. advanced micro devices saw heavier volume on its 7.5% rally. intel was at its lowest price of the year late last week. today, it was up almost 2%. sprint-nextel popped 10%. it may join a.t.&t. and verizon in offering an iphone to customers. according to the "wall street journal," sprint will sell the iphone 5 in mid-october. sprint has a ways to go to catch up with verizon and a.t.&t. wireless subscriber numbers. sprint is a distant third, with about half of the customers as the other two. >> while there was not a big reaction to the earthquake, watch trading the dominion resources tomorrow. shares fell more than a dollar right after the earthquake before recovering on the close gaining about 1.76%. it did confirm after the closing bell it shut down one of its nuclear power plants in virginia after losing external power. it has been operating on back-up generators and the stock was lower in after-hours trading. and that's tonight's "market focus." >> the days of back-to-school supplie
nvidia was at a year-to-date low last week. today, it closed higher by almost 11%. advanced micro devices saw heavier volume on its 7.5% rally. intel was at its lowest price of the year late last week. today, it was up almost 2%. sprint-nextel popped 10%. it may join a.t.&t. and verizon in offering an iphone to customers. according to the "wall street journal," sprint will sell the iphone 5 in mid-october. sprint has a ways to go to catch up with verizon and a.t.&t. wireless...
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Aug 26, 2011
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so we've got low interest rates the rest of this year next, year. the fed policies pretty much script it. they told you what it was on august 9th. he affirm it today by adding nothing new. there's nothing new for him to do. it's the congress that is the risky side to this equation. >> so despite that risk, you like financials, perhaps the most beaten-down sector. >> iically we'll begin with the subsector, which is commercial real estate. the reality fund icf the ticker similar symbol, big drop along with the rest of the market this month. what fuels it higher? >> well, we think the financials as a group were beaten down. in the case of the financials generally, beaten up for four years. at this stage in time, what's new? what's going to derail them now? and we saw that validated by warren buffett in his bank of america deal. so our view is this is a washed-out sector. it's time to be nibbling at it, raising rates, do it broadly. >> tom: and you're doing that with real estate and with banks, and the banks idea is regional banks, kre is the ticker sym
so we've got low interest rates the rest of this year next, year. the fed policies pretty much script it. they told you what it was on august 9th. he affirm it today by adding nothing new. there's nothing new for him to do. it's the congress that is the risky side to this equation. >> so despite that risk, you like financials, perhaps the most beaten-down sector. >> iically we'll begin with the subsector, which is commercial real estate. the reality fund icf the ticker similar...
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Aug 25, 2011
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today's drop takes the stock to a new 52 week low. one analyst calculates travelers gets 11% of its insurance premiums from the northeast, which is bracing for hurricane irene this weekend. the energy sector was the weakest today. independent producer q-e-p led the sell-off, followed by halliburton, then marathon petroleum. each fell at least four percent. european stocks also saw selling. this is the exchange traded fund following germany's stock germany had been a picture of market. germany had been a picture of strength in europe, but concerns surfaced today that a ban on short selling in other european markets may expand to germany. however, the finance ministry said there is no general plan to ban short selling. a couple of losers off of their earnings reports. dental equipment maker patterson fell hard, down 10 %after its earnings came up short. and food company hormel shed 7% after a shortfall in earnings. gold halted its selling after yesterday's $104 an ounce drop. today, prices were up a fraction the c-m-e increased the marg
today's drop takes the stock to a new 52 week low. one analyst calculates travelers gets 11% of its insurance premiums from the northeast, which is bracing for hurricane irene this weekend. the energy sector was the weakest today. independent producer q-e-p led the sell-off, followed by halliburton, then marathon petroleum. each fell at least four percent. european stocks also saw selling. this is the exchange traded fund following germany's stock germany had been a picture of market. germany...
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Aug 3, 2011
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murphy oil shed more than 2% to a new low for the year. coca-cola was the standout among dow industrial stocks, up 2%. nice move higher. with all the talk this week of government debt, coke sold $2 billion worth of bonds to refinance other debt. several companies are selling i.o.u.s, taking advantage of low interest rates to drop their borrowing costs, similar to refinancing a home mortgage. after the close, for-profit education company career education came into focus. earnings were nine cents per share better than estimates, but it signed up fewer new students, a key driver of future growth. it has been a choppy year for career ed as the industry has come under new rules for student loans. after tonight's news, the stock fell by more than 10% from this closing price, taking it below $20 per share. the stock was under pressure as the company announcing an internal review of job placement rates. finally, a rare bright spot for research in motion. the stock has been crushed in recent months. today? up almost 5% after announcing a new slate
murphy oil shed more than 2% to a new low for the year. coca-cola was the standout among dow industrial stocks, up 2%. nice move higher. with all the talk this week of government debt, coke sold $2 billion worth of bonds to refinance other debt. several companies are selling i.o.u.s, taking advantage of low interest rates to drop their borrowing costs, similar to refinancing a home mortgage. after the close, for-profit education company career education came into focus. earnings were nine cents...
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Aug 22, 2011
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and he went home and tested his insulin and he said it was so low he tested it again, and it was low. two days later they were calling me in my boule kitchen. he said you don't understand it was really low. so i started thinking, i already know the one starch they use called kzu, extremely good for the body, is probably responsible because it works as insulin. it passes sugarnto a cell wall so he can absorb sugar. you can see that in almost every ingredient in the last seven years. that's what got me totally seduced by the kasaki method, the health benefits are like none on the globe. we know women are the longest living. >> rose: for a long time, japanese had less heart disease and it was assumed because they ate more roteen and less fatty foods. >> their roteen is different, though. their protein comes from soy, and we thi protein-- by the way, steak is 17% protein. to few is 44%. >> rose: fish is proteen, too. >> it depends on the fish but it's in the 20s. soy products are in the 40s, more than double. >> rose: what is the reason for the japanese over a certain period of time havin
and he went home and tested his insulin and he said it was so low he tested it again, and it was low. two days later they were calling me in my boule kitchen. he said you don't understand it was really low. so i started thinking, i already know the one starch they use called kzu, extremely good for the body, is probably responsible because it works as insulin. it passes sugarnto a cell wall so he can absorb sugar. you can see that in almost every ingredient in the last seven years. that's what...
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Aug 8, 2011
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and withur patented customizable inserts, are comfortable whetr you have high, medium or low arches. ght and washable they also have specially designed a vents to help keep your feet cool. anmade of a virtually indestructible copolymer resin, they comwith a lifetime replacement warranty. similar orthotics cost 2- to $300 or more, but you won't pay anywhere neathat. the all-new next-generation walkfit platinum has a suggest retail price of st $39.95, but yowon't pay that eher. call in the next 20 minutes and you n join the over five million satisfied users for just one low payment of only $19.95! th's right, half pce! but it gets even better. we'll also include this bottle of soothing peppermint lotion to invigorate your feet and your spirit... and our scial sandal adapters, syou'll never be witut your walkfits. and now, as part of our comfort spectacular, you c cradle your et in comfort any time you want with our all-new memory foam slpers for free. made of a soft and luxurious velour t with durable anti-slip soles, the rm-fitting memory foam insoles shap your feet for unmatched stom
and withur patented customizable inserts, are comfortable whetr you have high, medium or low arches. ght and washable they also have specially designed a vents to help keep your feet cool. anmade of a virtually indestructible copolymer resin, they comwith a lifetime replacement warranty. similar orthotics cost 2- to $300 or more, but you won't pay anywhere neathat. the all-new next-generation walkfit platinum has a suggest retail price of st $39.95, but yowon't pay that eher. call in the next...
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Aug 20, 2011
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the president has a low approval rating, congress is even a lower. people don't believe that the institutions we have are capable of addressing the problems. the president promises another speech after labor day. he has got to go beyond that >> 8. -- he has got to go beyond that. that is not what we're looking for now. >> charles? >> another speech? he needs to give up plan. he gave a budget that was left out of the senate 97-zero . the head of the cbo was asked about how it would appear to the budget. he said contemptuously, "we don't estimate speeches," meeting there was nothing he could actually evaluate. are you going to give us a speech or plan? >> listen to this man now. >> you got bills. you know one of the homeless. >> -- you don't want to be homeless. >> this man is an order for the security guard, one of 4000 people who waited in line for hours for a chance at an interview at a job fair sponsored by the congressional black caucus. there are jobs out there, but a lot of people are not qualified to fill them. they needed training and educatio
the president has a low approval rating, congress is even a lower. people don't believe that the institutions we have are capable of addressing the problems. the president promises another speech after labor day. he has got to go beyond that >> 8. -- he has got to go beyond that. that is not what we're looking for now. >> charles? >> another speech? he needs to give up plan. he gave a budget that was left out of the senate 97-zero . the head of the cbo was asked about how it...
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Aug 12, 2011
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but jefferies says the stock's multiple is just too low to ignore, and boosted h.p. to a "buy". also helping h.p., the company cut the price on its touchpad tablet computer by 100-dollars yesterday, so it can better compete with apple's i-pad. another rough day for financials. all of the big names were down. morgan stanley hit the hardest, off over 7%. jp morgan down 2% wells fargo, citi and bank of america also seeing selling. but given all the carnage in financials this week, you might be surprised to see bank of america was not the weakest over the past five sessions. that honor goes to morgan stanley, down 15% on the week. bank of america off 12% this week. earlier we mentioned the modest gain in july retail sales. some mixed earnings in that sector today. nordstrom rose almost 5%high end shoppers still buying. the upscale retailers latest results beat the street, and nordstrom boosted its outlook. but more traditional department stores are struggling. dillards and j.c. penney were both down after reporting decent earnings, but had cautious outlooks on concerns about nervous
but jefferies says the stock's multiple is just too low to ignore, and boosted h.p. to a "buy". also helping h.p., the company cut the price on its touchpad tablet computer by 100-dollars yesterday, so it can better compete with apple's i-pad. another rough day for financials. all of the big names were down. morgan stanley hit the hardest, off over 7%. jp morgan down 2% wells fargo, citi and bank of america also seeing selling. but given all the carnage in financials this week, you...
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Aug 6, 2011
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we're at a low at a point we haven't been in since the 1980's. >> over the last two and a half years the big question in washington we were talking about week after week after week is what government can do to stimulate the economy, fiscal and monetary policy. and the argument politically is what it should do. are we now at the point where the government has no cards left to play? >> they don't have cards left to play in two respects. one, they did this massive still laws program and you can -- stimulus program and you can argue it made things worse. what we got for that amount of money is a very sluggish recovery. there is no appetite for additional spending. you saw in the debt debate they couldn't even extend the payroll tax cut or the unemployment tax. at the same time interest rates are near zero. the fed has very little left it can do. it can stop its program in june. i think it's going to take a lot more than a wild ride on wall street and a couple of months of bad numbers to do any more. the tools are not there so much anymore. >> you mentioned europe. we tend not to think mu
we're at a low at a point we haven't been in since the 1980's. >> over the last two and a half years the big question in washington we were talking about week after week after week is what government can do to stimulate the economy, fiscal and monetary policy. and the argument politically is what it should do. are we now at the point where the government has no cards left to play? >> they don't have cards left to play in two respects. one, they did this massive still laws program...
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Aug 18, 2011
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if you go out and i buy low, high efficiency pool i get a tax break. that's a social of subsidy. it's a form of government spending and the tax law is full of those things. and if we cut back on those, then we can have lower tax rates and raise revenue. >> i agree with what david said. you have to clearly understand where the mon is. the money isn't the tax credit for families of alzheimer's patients between 70 and 85 or some narrow thing. the big money is in mortgage deduction,ñr in property tax reduction, in charitable contributions, in the exclusion from income for healthcare, the exclusion from income to pension build up and life insurance. those are the big dollar amounts and unless you're willing to really tackle those, you are not going to get sufficient revenue to lowerÑi rates and you're certainly not going to get sufficient revenue to substantially reduce the budget deficit. >> charlie: suppose the president comes to you and said bill let's go shoot some baskes and then he comes back and says economic growth. you still got that jump shot, don't you. so then heays look
if you go out and i buy low, high efficiency pool i get a tax break. that's a social of subsidy. it's a form of government spending and the tax law is full of those things. and if we cut back on those, then we can have lower tax rates and raise revenue. >> i agree with what david said. you have to clearly understand where the mon is. the money isn't the tax credit for families of alzheimer's patients between 70 and 85 or some narrow thing. the big money is in mortgage deduction,ñr in...
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Aug 9, 2011
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a gut-wrenching day on wall street ends with a federal reserve promise to keep interest rates low and a market comeback. >> i can't overstate the manic way in which the market whip- sawed back and forth. it still hasn't, i think, fully assessed what the meaning of this is. >> tom: from the late-day rally in stocks to the economy and where best to invest now, we've got you covered. it's "nightly business report" for tuesday, august 9. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> susie: good evening, everyone. a gloomy economic outlook from the federal reserve today, but here on wall street, a rip- roaring stock market rally with the dow surging more than 400 points. the fed voted to keep its key interest rate near zero until 2013. it's a highly unusual move that means the fed thinks the u.s. economy is still in bad shape and will stay that way for two more years. >> tom: susie, the majo
a gut-wrenching day on wall street ends with a federal reserve promise to keep interest rates low and a market comeback. >> i can't overstate the manic way in which the market whip- sawed back and forth. it still hasn't, i think, fully assessed what the meaning of this is. >> tom: from the late-day rally in stocks to the economy and where best to invest now, we've got you covered. it's "nightly business report" for tuesday, august 9. this is "nightly business...
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. >> the fed has said they will keep interest rates low. what can they do? >> this is a problem, almost saying that they will keep interest rates low, they have said that they're concerned that the u.s. economy will remain sluggish. this is a double edged sword. they do have this wonderful stability. they have already done in two rounds of qualitative easing. there is pressure on the north not to do that, not to flood the u.s. with more dollars which would create inflation, which is harmful. there is the problem and there are very few tools left for anyone. >> it looks like we will have a few more wild days to come. you are watching "bbc world news america," still to come -- china has had quite a wave of economic success that could the economic issues slow down the path to progress. it is the sign of the times that a four-day visit to spain by the pope has been marred by protests. some people are angry during the cost of the visit. we report on the first visit to spain. >> as the plane touched down in madrid, a crowd was waiting to welcome them. the royal fa
. >> the fed has said they will keep interest rates low. what can they do? >> this is a problem, almost saying that they will keep interest rates low, they have said that they're concerned that the u.s. economy will remain sluggish. this is a double edged sword. they do have this wonderful stability. they have already done in two rounds of qualitative easing. there is pressure on the north not to do that, not to flood the u.s. with more dollars which would create inflation, which is...
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>> satconsole lar converters has struggled with all the clean tech market, i'm holding at such a low price, but for others with so many beaten down stocks, you might find better opportunities somewhere else. i'm hoping for a rebound. >> tom: you own everything we mentioned tonight, except for cme, you mentioned building a position? >> that's right. you can email us, streetcritique@nbr.com, or you can send us a note via twitter at my feed, @hudsonnbr, or n.b.r.'s feed. and facebook too. we'll feature some of your questions next wednesday. our guest this evening on "street critique," was hilary kramer with gamechangerstocks.com. >> susie: here's what we're watching for tomorrow: we'll see auto sales and the i.s.m. manufacturing reports for august, and construction spending for july. h&r block and t.d. bank report their quarterly results. and, after a very volatile august, tomorrow we'll look at what september could hold in store for investors. ford motor is going back to school. it's providing cars to zipcar locations at 250 colleges and universities. zipcar is the car-sharing service
>> satconsole lar converters has struggled with all the clean tech market, i'm holding at such a low price, but for others with so many beaten down stocks, you might find better opportunities somewhere else. i'm hoping for a rebound. >> tom: you own everything we mentioned tonight, except for cme, you mentioned building a position? >> that's right. you can email us, streetcritique@nbr.com, or you can send us a note via twitter at my feed, @hudsonnbr, or n.b.r.'s feed. and...
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goes down, manufacturing becomes more competitive and the united states we've been doing that with low interest rates and perhaps term in terms of federal reserve policy we'll see that. although it doesn't improve living standards, it presides are a manufacturing base if that's where we need go. >> with retalking about highly skilled labor and that kind of thing? because if you look at the kind of exports germany has, what are they? are they highly skilled manufacturing? >> they are far more... >> charlie i.... >> ros bill? >> i think it's hard, very hard to think about replacing what has been destroyed over the years. i think you have to think about a new kind of manufacturing. i think a lot of people are going to move manufacturing but it will be with ample amounts of capital. robotics is going to work productively with less skilled labor than was required historically. so i think what's going to happen is we're going to create a new element o the manufacturing sector, some aspects of it will be dren by a low dollar but some pects will be driven by all of the problems that ultimately
goes down, manufacturing becomes more competitive and the united states we've been doing that with low interest rates and perhaps term in terms of federal reserve policy we'll see that. although it doesn't improve living standards, it presides are a manufacturing base if that's where we need go. >> with retalking about highly skilled labor and that kind of thing? because if you look at the kind of exports germany has, what are they? are they highly skilled manufacturing? >> they are...
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the very low interest rates, f. e. ratios about 10 times forward earnings so, given those extreme valuations, which make stocks cheap and bonds expensive, seems like we're priced in a pretty nasty recession any way. >> susie: well, joe, investors will feel a llt better if they knew the economy was growing. we've been trying to jump start the economy for four years now, and it just doesn't seem to be working. so what has to happen? >> i don't think there's any magic bullet. the one thing that would clearly help all investors around the world would be more definitiveness and more comprehensive measures on the dealt concerns, both overseas in europe as well as in the united states. i think with clarity, even if there is a debate as to terms of the composition of the fiscal measures, i think that alone would be a very important step for the u.s. economy over the next several years, because i think it's that uncertainty that has caused some risk aversion to increase both among consumers as well as businesses. as they look i
the very low interest rates, f. e. ratios about 10 times forward earnings so, given those extreme valuations, which make stocks cheap and bonds expensive, seems like we're priced in a pretty nasty recession any way. >> susie: well, joe, investors will feel a llt better if they knew the economy was growing. we've been trying to jump start the economy for four years now, and it just doesn't seem to be working. so what has to happen? >> i don't think there's any magic bullet. the one...
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he talks about being the jobs generator, a state with relatively low unemployment. he talks about ben bernanke a great deal. he said it would be trees nouse, and he launched his campaign in houston, at a prayer service, in which 30,000 people attended the sunday before he actually got in. so whether he can weave these three threads into a quilt that makes sense remains to be seen. gwen: wen i was in -- when i was in iowa, i spoke with mike huckabee and his response is he hasn't been roughed up yet. he hasn't got into the race yet. he hasn't been in a debate yet or shared a stage. maybe we're getting carried away? >> romney said i'm excited. gwen: he didn't look excited. >> they kinds of grudgingly said about perry, well, ok, he's a really good competitor. he's a great campaigner and it implies that they hadn't had one up until now. they respect the fact that he can raise money. there's no question about that. but they said it's been a month, guys. let's see -- there are three debates coming up in september, three in a row, one, two, three, one, i guess, in californi
he talks about being the jobs generator, a state with relatively low unemployment. he talks about ben bernanke a great deal. he said it would be trees nouse, and he launched his campaign in houston, at a prayer service, in which 30,000 people attended the sunday before he actually got in. so whether he can weave these three threads into a quilt that makes sense remains to be seen. gwen: wen i was in -- when i was in iowa, i spoke with mike huckabee and his response is he hasn't been roughed up...
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. >> i think the most striking thing that reminded me of experience, was wendy low-grade prison scandal happened. abu ghraib prison scandal happened. >> why is what happened here is so relevant? no experiment like this would be allowed to go as far today. the rules have changed partly because of what happened here. it does prompt some interesting questions about human nature. it asked us what we would do if we were in the same situation. >> i don't know about you but off for all of that stress, you might need to relax. -- but after all that stress, you might need to relax. people watching in one of the many cafes in paris. if i told you there was a vast network of tunnels beneath the city, wouldn't that be a bit more original? >> from an underground car park down steep and steps, we're descending into the boughs of paris. this is one of the densest of underground networks in the world with 180 miles of intricate tunnels, we are exploring a city beneath the city. >> you can see some light coming. >> this drops 40 meters from the manhole covers above. the tunnels were mined for the gypsum
. >> i think the most striking thing that reminded me of experience, was wendy low-grade prison scandal happened. abu ghraib prison scandal happened. >> why is what happened here is so relevant? no experiment like this would be allowed to go as far today. the rules have changed partly because of what happened here. it does prompt some interesting questions about human nature. it asked us what we would do if we were in the same situation. >> i don't know about you but off for...
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now you already have very low-interest rates, so that isn't a problem forow. the piece of '93, people so often forget, so critically important, was the effect a sound fiscal regime had on business confidence. >> rose: some say it's about th. some say it's all about consumer demand. >> well, i think demand- >> ros there's no demandthere, o confidence to go out and invest in new factories andnew inventory and hire new people. >> i think demand is important. i agree with larry summers with respect to the importance of demand, but the fact is we won't have an enormous growth of demand right now given that the consumers are still fairly highly leveraged. what we can do, to increase both consumer confidence and business confidence -- i don't think we'll have the confidence that we need -- i would probably do -- i think i would do -- the stimulus in the way that i described before, even if we didn't have the fiscal framework that we need, but i think it doestake -- i think it does take -- itoes create risk with respect to confidence. i think we're far better off doin
now you already have very low-interest rates, so that isn't a problem forow. the piece of '93, people so often forget, so critically important, was the effect a sound fiscal regime had on business confidence. >> rose: some say it's about th. some say it's all about consumer demand. >> well, i think demand- >> ros there's no demandthere, o confidence to go out and invest in new factories andnew inventory and hire new people. >> i think demand is important. i agree with...
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preferential treatment from the referees and he may well get in trouble for that, because he never keeps a low profile. >> thank you. you're watching "bbc world news." still to come, 20 years after the soviet union broke up. we look at the huge transformation in the daily lives of russians. well, staying in russia, buzz russia has shown off its first stealth jet fighter fighting to regain itself as a top jet military maker. prime minister putin has vowed to develop the space industry. part of a strategy to diversify away from reliance on oil and gas. we have this report from our correspondent. >> the public appearance from this fighter was long evaded after its maiden flight. it's russia's first-ever jets making it less visible to the enemy. it aims to rival america's raptor. it's similar in design. among those watching the first public flight was the country's prime minister vladimir putin. he promised more for the nation's military. >> developing russia's air and aerospace industry is not only important for our reputation and tech in a logical development but also prevents the country's capa
preferential treatment from the referees and he may well get in trouble for that, because he never keeps a low profile. >> thank you. you're watching "bbc world news." still to come, 20 years after the soviet union broke up. we look at the huge transformation in the daily lives of russians. well, staying in russia, buzz russia has shown off its first stealth jet fighter fighting to regain itself as a top jet military maker. prime minister putin has vowed to develop the space...
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how does it compete with low wages china? >> quality, especially for some productions, it needs a lot of crest -- craftsmanship. >> one thing the german economy really does have that other places do not is these middle- sized companies. 200 employees in a very small town. the fundamental strength of the german economy is in the structure of its economy, often small, focused on quality, investing big money for the long term. that is the strength of the german economy. let me reiterate those problems, north of 0.1% growth in the quarter of the year. 1.2% for the seventh three months of the year for the your son economy. not sparkling figures clearly. they will play on the mind of the french and german leaders when they meet. they make it much more difficult to sort out the uruzgan problem, because of tax revenue, for problem,- euros ozone because of tax revenue, for example. -- >> four weeks ago, they shook hands on a deal that the french for healing as a game changer. now the bailout funds total for month of 40 billion euros -
how does it compete with low wages china? >> quality, especially for some productions, it needs a lot of crest -- craftsmanship. >> one thing the german economy really does have that other places do not is these middle- sized companies. 200 employees in a very small town. the fundamental strength of the german economy is in the structure of its economy, often small, focused on quality, investing big money for the long term. that is the strength of the german economy. let me...